Creating a DAO on Arbitrum
Learn how to create a DAO on Arbitrum, the fastest and cheapest Ethereum scaling solution.
Having coordination and a common goal is a very undervalued feature that the human race craves. DAOs will very likely be the driving force that takes the entire crypto and NFT industry to the next level.
So it only makes sense that go over the tools available to you on Arbitrum that will bring your DAO to the front of the stage.
DAO Tooling
Treasury Management
Managing the funds of your organization is possibly one of the most important things to having sustainable DAO. Having everyone’s money stored in a single EOA just isn’t going to fly in 2022. This is why platforms like Gnosis Safe exist.
Gnosis Safe allows you to create a wallet that can be managed by multiple EOAs. Meaning that you can have a wallet that holds the funds for your DAO, have (for example) 9 signers, and only require 4 of them to sign off to move funds out of said wallet.
Payroll
Ok so you have a bunch of money sitting there… now what? Well part of being in a DAO usually comes with participants within it working to achieve the common goal agreed upon by members within that DAO. For their work, people should get paid and this is where we bring in payroll!
Now you may think that this should be as simple as just sending eth/funds from your multisig treasury wallet, but as you start to scale you’re going to want a tool that helps you manage this distribution of funds especially if members get paid out different amounts every month for their varying amounts of participation.
Both Utopia and Multis are great systems that even some of the biggest DAOs from FWB all the way to Axie Infinity use! Both platforms provide charting for funds coming in and out, alongside the ability to mange accounting and expenses.
Governance and Coordination
With the money portion out of the way, let’s talk about the other powerful feature that truly makes a DAO what it is: governance. Some may tell you that governance is as easy as gauging a room looking for a yay or nay. However since we’re all online and proving one’s vote should be verifiably equal to another, things get a little more tricky. In comes Snapshot and Commonwealth.
Snapshot clocks in as a staple for on-chain protocols and DAOs generally who may or may not want to set a specific set of requirements that will allow people to vote and thus start a poll. Commonwealth acts as more of a forum/chat tool that can actually integrate Snapshot within it to further empower those who want to combine that conversation with on-chain voting.
Discord
The pillar of all communication within the crypto/NFT/gaming world is undoubtedly Discord. You’d be surprised to see a DAO using anything other than Discord for announcements, day-to-day conversations, and even voice calls/AMAs. This is why the ability to token-grant access to certain members who may have specific roles is key to creating an organized community. Two great tools for this includes Guild.XYZ and Collab.Land.
These tools work great for communities that have their own ERC20 tokens as well as those that have NFTs with varying degrees of permission. Doing so allows you to tie specific roles to members who hold an NFT or a token on the Arbitrum network.
Structure
Lastly if you decide you want a platform that will help structure your DAO from the start, including the ability to organize docs, bounties, proposals, members, etc then DAOHaus and Charmverse will definitely be the platform for you.
DAOHaus has great visuals and offers a way to clearly see all your members, organize proposals, monitor vault performance, and more. Charmverse functions almost like a web3 notion and really makes it easy to collaborate on anything DAO-related.
Conclusion
Building on Arbitrum, Ethereum’s premier scaling solution, is pretty much a no-brainer at this point. Massive amounts of communities are bridging over every week and it’s no surprise that DAOs are now starting to use Arbitrum and these dapp tools that support it, to build their own world-eating DAO.
If you’re interested in learning more about what dApps you can use on Arbitrum click here.
If you’re a techie and want to know how Arbitrum works under the hood, check out our docs here.